QBotix Gets Funds From EON, Iberdrola in $12m RoundJustin Doom
QBotix Inc., a closely held supplier of robotic systems for solar farms, received $12 million in equity financing from a group including EON SE and Iberdrola SA.
The European energy giants joined existing investors New Enterprise Associates Inc., Firelake Capital Management LLC and Draper Nexus Ventures, in the Series B round of investment, Menlo Park, California-based QBotix Inc. said today in an e-mailed statement.
Chief Executive Officer Wasiq Bokhari in January said the company sought additional funding after initially raising about $12 million.
QBotix’s battery-powered robots ride a rail around solar arrays and tilt the panels toward the sun as it moves across the sky, increasing panel output.